US Stocks Fall Ahead of Tariff Announcement
US stocks fell on Wednesday, with the S&P 500 down 0.9%, the Nasdaq down 1.4% and the Dow Jones down more than 240 points. Investors remained cautious ahead of President Trump’s upcoming tariff announcement. Reports suggest he is considering a 20% universal tariff on most imports, though uncertainty remains over the scale and scope of the levies. The White House has said the tariffs will go into effect soon but noted that Trump remains open to further negotiations. Meanwhile, the ADP report showed a surprise 155,000 increase in private sector jobs in March, well above the 105,000 expected. Consumer discretionary goods and technology were the worst performing sectors. Megacap stocks fell, including Apple (-0.5%), Microsoft (-0.5%), Nvidia (-1.8%), Amazon (-1.1%), Meta (-0.7%) and Alphabet (-0.4%). Additionally, Tesla shares plunged more than 4% as the company reported a 13% annual decline in vehicle deliveries in Q1 2025.
Source: Trading Economics